You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.
Thrasio-style ecommerce marketplace 10Club has filed for insolvency proceedings before the National Company Law Tribunal (NCLT), marking a significant setback in the roll-up ecommerce space.
According to filings with the Registrar of Companies (RoC), the Fireside Ventures-backed startup is initiating the Corporate Insolvency Resolution Process at the Bengaluru bench, citing that its assets are insufficient to pay off debts.
Founded by Bhavna Suresh, Deepak Nair, and Joel Ayala, 10Club made headlines in 2021 with a USD 40 million seed round—one of the largest in India. A year later, it raised another USD 30 million from US-based Olive Tree…
